IMF says China’s housing price not significantly overvalued

From Peopledaily.com.cn: China’s house prices are not “significantly overvalued” as a whole by mid-2010, the International Monetary Fund said in a report. But in a number of coastal cities, most clearly in Shanghai and Shenzhen, they may be in early stages of excessive price growth, it said.
The IMF suggested China should raise interest rates further and impose a property tax to curb the risk of asset bubbles and a “disorderly fall” in house prices……………………………………….Full Article: Source